Solana (SOL) is a decentralized computing platform for smart contracts, similar to Ethereum. Thanks to innovative ideas such as the combination of Proof-of-Stake and Proof-of-History, the system can perform around 50,000. It processes transactions per second with extremely low commissions and is therefore considered a strong competitor for Ethereum.

Where to buy SOL?

In the full issue of June 2022, the Solana SOL cryptocurrency has a market cap of approximately $510 million and a total supply of 34 billion coins. If you have a question about how to buy solana for Fiat USDT, you can buy it on 85 exchanges.

What is Solana’s purpose?

All blockchains and similar decentralized crypto systems must solve the “trilogy”. Platforms must also be decentralized, secure and scalable. As a rule, optimization of the system on two of these factors is accompanied by ignoring the third aspect. For example, in the case of Bitcoin and Ethereum, decentralization and security are very strong, but systems are relatively slow and individual transactions are expensive. In other words, the scalability of networks is (currently) very limited.

Solana developers claim that they have managed to combine these three aspects better than any other blockchain. Although the system is already capable of processing more than 50 thousand transactions. Transactions per second, the platform must be completely decentralized and secure. In the future, the limit may rise to several hundred thousand operations per second. New blocks are created every 400 milliseconds in the blockchain. This is why Solana is well suited as a foundation for DApps (decentralized applications) such as decentralized exchanges (DEX).

For example, the programming language of Solana smart contracts, such as the Ethereum programming language, is Turing-complete and may therefore allow more complex logic programs to run in the future. Solana’s transaction processing approach also provides the ability to process smart contracts in parallel. Even without final approval from the blockchain, Solana smart contracts can produce cryptographically protected results. This makes Solana faster as a platform, as short-term bottlenecks in capacity no longer mean slowing down the processing of smart contracts.

Facts about Solana

1. Solana is called high-speed blockchain, as it achieves a lock time of 400ms and can process more than 50,000. Transactions per second as it uses a proprietary timestamp system: Proof of History (PoH).
2. The core team behind Solana includes former employees from Qualcomm, Apple, Dropbox, Intel, Microsoft and others.
3. In 2019, Solana received more than $25 million in major investments from major investors including Multicoin Capital, NGC Capital, and Rockaway Ventures.

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